Vancouver, BC — December 6, 2018, Ethos Gold Corp. (“Ethos” or the “Company”) (TSXV:ECC) (OTCQB: ETHOF) is pleased to announce the remaining results 2018 sampling program from its Pine Pass vanadium project.
East Limb Results
Results from Trench 1 (18PPT1) and Trench 2 (18PPT2) on the East Limb were reported in a November 1, 2018 press release. The entire 255 m sampled in Trench 1 perpendicular to strike averaged 0.27% V2O5, with significant intervals of +0.40% V2O5. In Trench 2, approximately 1.1 km south east of Trench 1, the entire 218 m sampled in Trench 2 averaged 0.43% V2O5, with significant intervals of +0.50% V2O5 and up to +0.80% V2O5.
An effort was made to hand dig a third trench (Trench 5 (18PPT5)) in steep terrain approximately 3 km south east of Trench 2 (see Figure 1). The first 42 meters of this trench reached bedrock and returned an interval of 20.5 meters of 0.34% V2O5. The balance of this trench did not reach bedrock.
The three trenches on the East Limb, along with soil and rock samples confirm that significant vanadium mineralization extends over at least 5 km of the approximately 10 km of prospective East Limb subcrop strike (see Figure 1). The remaining 5 km of East Limb strike to the north west of the 2018 work will be explored in the 2019 season.
West Limb Results
Five soil lines and two trenches were completed on the West Limb in the 2018 program (see Figure 1).
Trench 3 (18PPT3) was dug approximately 5.5 km north west of the John Hart highway. This trench included an interval of 31 meters of 0.10% V2O5. Bedrock was primarily siltstone indicating that the trench was likely outside of the main target horizon. Results for a nearby soil geochemistry line were received after Trench 3 was completed indicating that the highergrade mineralized horizon was to the west of Trench 3. Work in 2019 will include extending this trench to the west.
Trench 4 (18PPT3) was dug in very steep terrain approximately 500 m north west of the John Hart highway. This trench included an interval of 9 meters of 0.27% V2O5. Only the upper 17 meters of this trench reached bedrock. Work in 2019 will include extending this trench to the west.
As noted in the November 1, 2018 press release, the West Limb mineralization was also outlined in a road cut on the John Hart highway where a 50 meter true width returned an average of 0.39% V2O5 (including 0.45% over 20 meters).
The results of the soil and prospecting together with the mapped geology of both Trench 3 and 4 suggest that west limb high grade vanadium bearing horizon is located approximately 150-500m further to the west than anticipated. The 2018 regional West Limb sampling and trenching does confirm that significant vanadium mineralization extends over at least 9 km of the approximately 10 km of prospective West Limb subcrop strike (see Figure 1).
2018 trench descriptions and sample summaries:
|Trench#||Zone||Description||Length (m)||No. of|
|18PPT1||East Limb||Outcrop of laminated and fissile carbonaceous Black Shale, locally interbedded with carbonaceous Grey Siltstone.||255||84||3|
|18PPT2||East Limb||Outcrop of laminated, fissile, and sooty Black Shale with minor carbonaceous Grey Siltstone||218||74||3|
|18PPT3||West Limb||Outcrop of dark grey, semi-massive grey Siltsone with minor Black Shale||73||22||3|
|18PPT4||West Limb||Outcrop and Talus of Black Shale and Grey Siltstone||33||9||4|
|18PPT5||East Limb||Outcrop/Subcrop and Talus of Black Shale with minor Grey Siltstone||69||23||3|
|18MST1||West Limb||Chip Sampling of Black Shale outcrop at Road Cut||65||13||5|
2018 rock and soil sampling:
Assays of 89 outcrop and subcrop samples collected during regional prospecting of the property, ranged from below detection to 2420 ppm V (0.43% V2O5) with over 18 samples assaying above 1000 ppm V (0.19% V2O5). In addition, 535 soil samples collected across 9 lines at 10m spacing assayed from below detection to 4770 ppm V (0.85% V2O5) with 68 samples assaying over 1000 ppm V (0.19 V2O5).
Craig Roberts, P.Eng., Interim President and CEO of Ethos stated:
“The 2018 Pine Pass exploration program was highly successful in confirming +100 m thicknesses of +0.40% V2O5 vanadium hosted in black shale, including higher grade intervals of up to +0.80% V2O5. The program has also confirmed the presence of significant vanadium mineralization over 5 km of strike on the east limb and over 9 km of strike on the west limb, with significant additional prospective strike length still to explore.
Price, M.Sc., MBA, P.Geo, VP Exploration of the Company is now preparing permit applications for a significant trenching and drilling program in 2019. This program will test approximately 1.5km of strike between and outside Trenches 1 and 2, and will also drill test other target areas on the property. We anticipate having this trenching and drilling permit application submitted before 2018 year end. Based on the 2018 sampling and trenching program we are very excited by the potential for the maiden drill program to deliver significant results in 2019.”
QA/QC, Qualified Person, and Contact
All samples were delivered to ALS Chemex in Kamloops and/or North Vancouver, British Columbia for analysis of select elements by ICP-MS analysis using 4 acid-digestion. Quality control entailed insertion of company standards, blanks, and duplicates into the trench sample stream. In addition, ALS Chemex routinely inserted blanks and standards into the sample stream at the assay laboratory. All reported standard and blank assay values, as well as duplicates were within an acceptable margin of error. Work at Pine Pass is being supervised by Jo Price, M.Sc., MBA, P.Geo, VP Exploration of the Company. She is a Qualified Person as defined under National Instrument 43-101 and has read and approved this release.
For additional information please contact Craig Roberts at 604-682-4750 or view the Company’s website, www.ethosgold.com.
Ethos Gold Corp.
Per: “Craig Roberts“
Craig Roberts P.Eng., President & CEO
Forward-Looking Statement Cautions:
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including statements regarding the Company’s planned 2019 exploration program for its Pine Pass project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other governmental clearances, necessary to carry out the Company’s exploration plans, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.